Here are my Top 5 Favorite Investing Apps in 2019 – and each of their pros and cons. Enjoy! Add me on Instagram: GPStephan
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FIRST: Robinhood Investment App – GET A FREE STOCK
They’re a stock trading app that allows you to trade stocks, efts, and even cryptocurrencies…completely FREE. That’s right, I said it…it’s FREE.
Now, I will say, this app is NOT perfect, and there are a few small downsides I see:
1. I’ve heard customer service is lacking in the event you have any issues. For this reason, I probably wouldn’t recommend trading with a HUGE amount of money if you’re going to be using this
2. You’re not able to purchase fractional shares…this isn’t the end of the world, but it would be nice to be able to get fractional shares if you can.
3. No dividend re-invest (DRIP)
4. No retirement accounts
SECOND: M1 Finance:
M1 Finance is an investment app with…my favorite…NO FEES. Now since I’m reviewing this second to Robinhood, I should note a major difference between the two:
Robinhood is an app that’s GREAT for trading stocks…if you’re buying and selling all day, Robinhood is the best choice.
A HUGE benefit to using M1 Finance is that they allow you to buy Fractional Shares. The other benefit with this is that they allow dividend re-investing, which allows you to continually purchase more stocks with the money those stocks generate.
If there’s ANY downside here, it’s that it’s not really the ideal platform for DAY TRADING stocks…this is because they don’t allow you to buy and sell a stock within the same day..
So overall, I’m super happy with M1 Finance and would recommend this as a good app to use.
THIRD: Acorns Investing
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Acorns is an an app that helps automate your investing. And their most notable feature, in my opinion, would be their “round up” feature – this lets you invest the spare change from what you spend, and you can just “round up” every single purchase to the nearest dollar to invest the difference.
Overall, this is a REALLY decent app if just for the round-up feature alone. However, the downside is that the $1 per month charge heavily eats into your profit if you only happen to have a few hundred dollars invested, or ONLY use it for the round up feature.
But, once you have more than $5000 invested in Acorns, the $1 per month fee is pretty much on par with Vanguard, and beyond that dollar amount, they even become CHEAPER.
FOURTH: WeBull
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1000):
This one is fairly similar to Robinhood in the sense that it’s a free stock trading app where you can buy and sell stocks with ZERO commissions…and on the surface, they’re very much alike.
But where WeBull really pulls ahead of Robinhood, is in their charts…as you begin to get more serious into stock trading, WeBull just offers a lot more with their analytics.
Overall, if I were to say anything negative about them – I would just say that it takes a little bit to figure out how to navigate the app and their charts, but for a free stock trading app, I’d highly recommend it.
FIFTH: Fidelity Investing
The reason I like this so much is that their app allows you to invest without any minimums, without any fees, into many of their completely free index funds…so everything within this is totally free.
Now I need to mention, this is NOT good to use if you’re looking to buy and sell individual stocks – because they will charge you a $4.95 commission per trade. So don’t ever do that when you could just use M1 Finance, WeBull, or Robinhood to do that for nothing…BUT, if you’re looking to invest in their own index funds…which most of you should be doing…this is ideal.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
Don't forget to get your 2 Free Stocks when you Deposit $100 on WeBull – Each one is worth at MINIMUM $8 and all the way up to $1600 during their latest promotion! https://www.webull.com/activity?inviteCode=Vowbik9Tm5he&inviteSource=wb_kol_us&source=main
Robinhood is lame, grow up.
I like how he TRIED so hard to be subtle about this entire video being an infomercial for WeBull lol
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires….
Update pls
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?
So much has changed since 2020 – can we please have a 2023 update 🙏🏻
Huh Robinhood has most of those things now
Are there any reputable brokerage apps that offer purchasing fractional shares and reinvest dividend payments? Thanks.
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.,..,.,
Graham should do an updated version of this video now. But maybe not just the apps. Instead focus on what are the best brokerages in general.
If you "always read all the comments." Can you make an updated video of this? I want to begin investing like into stocks and stuff, but I know after years there is updates to them all. Thank you, will smash many like buttons if you do.
I do not what accounts you have setup, and I am completely speaking from my own point of view but I have absolutely no fee for any stock purchase on Fidelity only a fee of 0.65 for options
Robinhood isn't available anywhere else apart from the US
I like ur channel g
Need a update video
No E*trade review?
What is margin trading
can u send me 5000$?
could you make a new 2024 video on this for beginners
I gotta say, its 2024, and most, if not, all the cons for Robinhood have been seen and implemented into the app, so they arent cons anymore
CashApp has extremely low fees and has stock round up.
Is there a newer version of this?
Nothing works anymore